HYDERABAD: India’s IT sector can bounce back from the current phase of slowdown, says industry veteran Kris Gopalakrishnan, dismissing suggestions that its “golden era” is over.
On doomsday prophets writing “obit” of the Indian information technology industry, he recalled that they had done so in 2008 during the global financial crisis, but the sector had recovered.
“I am very confident in saying Indian IT industry will continue to be an engine for job creation. It will continue to grow. It can grow in double digits,” Gopalakrishnan, co-founder of Infosys, where he served as CEO and MD from 2007 to 2011, told PTI.
He rejected perception is some quarters that the single-digit growth is going to be the “new normal” for Indian IT companies.
“IT services growth has come down. This year (2016-17), it looks like 8-9 per cent growth rather than 12-15 per cent. Next year, it will depend on global economy. If global economy picks up, so will IT industry,” said Gopalakrishnan, former president of the Confederation of Indian Industry (CII).
“Which other sector (other than IT) is creating one lakh or two lakh good-paying jobs a year? I wouldn’t say golden era of Indian IT services industry is over,” he asserted.